GSTR-3B extended till Jun, Eway bill from Apr: Jaitley

Jaitley who briefed reporters after the meeting said that central and state tax officers felt that return filing should be simpler yet it should leave no scope for tax evasion

Jaitley who briefed reporters after the meeting said that central and state tax officers felt that return filing should be simpler yet it should leave no scope for tax evasion

The Goods and Services (GST) Council in its 26th meeting on Saturday is likely to simplify tax returns, sources from Ministry of Finance told ANI.

With businesses complaining of difficulty in invoice matching while filing final returns as well as complications in GSTN systems, the GST Council in November previous year extended GSTR-3B filing requirement till the end of March 2018 and did away with the filing of purchase return GSTR-2 and final return 3.

The council also made a decision to retain the current tax return filing system for another three months before it could be replaced with a simpler version with safeguards against tax evasion.

For intra-State movement of goods, e-way bill system will be introduced w.e.f. a date to be announced in a phased manner but not later than 01 June, 2018. So, no decision was taken today.

"The Council's view was the system with single and simple monthly return, and with no scope for evasion, needed further simplification".

Apart from the Union finance minister and the revenue minister, the GST Council has a minister nominated by each state.

But member-states failed to agree on how to make it simpler for businesses to file tax returns in the new goods and services tax (GST) regime.

The E-Way Bill would be launched across the country by June 1.

Jaitley said from April 1, e-way will be implemented for inter-state transportation of goods. Besides, tax exemptions to exporters have also been extended by six months to September.

The all-powerful GST Council on Saturday made a decision to rollout the requirement of carrying an electronically generated bill for transporting goods between states from April 1 but failed to arrive at a consensus on simplification of tax returning filing procedure for businesses.

With E-way bill roll out, from April 1, transporters of goods worth over Rs 50,000 will have to generate an e-way bill. The GST Council extended the present system of return filing by three months. In October, the council had decided that exporters will pay a nominal Integrated GST (IGST) rate of 0.1 per cent on merchant exports till March 31.

Besides, the GST implementation committee has been tasked with the work of redressing grievances caused to taxpayers arising out of IT glitches. After that, the state will be categorised into four lots for the implementation of intra-state e-way bill.

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